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RIGHT OF EXTENSION Sample Clauses

RIGHT OF EXTENSION. It is recorded that the Seller has reserved the right to extend the scheme in phases, in terms of Section 25 of the Sectional Titles Act. This means that the Seller may build on to the development at some time in the future. The Purchaser understands and agrees that he might have to endure the inconvenience of on-going construction activities on the site and furthermore accepts that any amenities serving the whole development, or improvements of the common property may only be constructed with the final phase.
RIGHT OF EXTENSIONTenant shall have the right to extend the Lease Term for one (1) three (3) year term in accordance with Section 2.4(b).
RIGHT OF EXTENSIONThis Agreement may be renegotiated and extended for a further 12 months by COORDINARE (funding dependent) and based on the agreement of both parties.
RIGHT OF EXTENSION. [IF APPLICABLE]
RIGHT OF EXTENSION. 21.1 The Purchaser records that he is aware that on the occupation date the buildings and other sections may be incomplete and that occupants may suffer inconvenience from building operations and that he shall have no claim against the Seller by reason of any such inconvenience.
RIGHT OF EXTENSION. 15.1 The Seller reserves to itself and to its successor in title as Developer, the right to erect and complete Phase 2, from time to time, but by no later than 25 (Twenty Five) years from the date of this Agreement of Sale, for his personal account. The extension may consist of a further Building or Buildings, or a horizontal or vertical extension of an existing Building or Buildings substantially in accordance with the Site Development Plan which is annexed hereto as Annexure "A" and which envisages a development comprising of 23 sections. 15.2 The Seller will be entitled to divide such Building or Buildings erected in terms of the aforesaid right to extend into a Section or Sections and Common Property and to confer the right of exclusive use over parts of such Common Property upon the owner or owners of one or more of such Sections. After completion of the extension to the Scheme as aforementioned the Participation Quotas of all the Sections in the Scheme are estimated by the Seller to be substantially in accordance with Annexure "D"; 15.3 The Seller shall have the right at any time prior to the opening of the Sectional Title Scheme referred to in clause 14 above, to amend the Site Development Plan in respect of the Layout of Phase 2. 15.4 The Seller undertakes, in the construction of Phase 2, as far as possible to use materials which do not substantially differ from the materials used in the construction of the Building and which are in keeping with the style of construction used in the erection of the Buildings. 15.5 From the date of establishment of the Body Corporate, to the date of registration of the sectional plan in respect of the extension envisaged in clauses 15.1 or 15.2, above, the Seller shall be responsible for the upkeep, control, management and administration of that portion of the Common Property on which such additional Buildings are to be erected. 15.6 The Seller shall have the right, in as far as this may be or become competent in law, to take out and obtain registration of a Certificate of Real Rights in respect of such portion upon which the additional Buildings are to be erected, and to subdivide, hypothecate, encumber or otherwise deal with such portion of the Common Property and for the exclusive risk, benefit and account of the Seller without obstruction or intervention on the part of the Purchaser, whether as a Purchaser or owner of a Unit in the Scheme or in his capacity as a member of the Body Corporate. 15.7 The right reser...
RIGHT OF EXTENSION. Lessee is hereby granted three (3) separate options to extend the term of this Lease, each option period to be for five (5) years. Except as to Fixed Rental (hereinafter defined), and as otherwise provided herein, Lessee's occupancy of the Premises during such period(s) shall be on and subject to the same terms and conditions as the Initial Term hereof. This Lease shall automatically renew for each of said extension periods unless Lessee gives written notice to Lessor of its intention not to extend this Lease at least six (6) months prior to the end of the then current term.
RIGHT OF EXTENSION. If this Agreement is not terminated before December 31, 2045, then the term of this Agreement shall be extended automatically for periods of one year each for as long as the following conditions exist: (a) Falkirk has sufficient Underwood Coal to supply GRE's fuel requirements during such extension(s); (b) the Coal Creek Station continues in operation and is not permanently closed; or (c) governmental regulations do not prohibit the Coal Creek Station from utilizing Xxxxxxxxx Coal as a fuel source.
RIGHT OF EXTENSION. 7.2.1 If COMPANY exercises the above right of extension of the INITIAL PERIOD as from the expiry of the INITIAL PERIOD, COMPANY shall continue to pay OWNER the DAILY COMPENSATION FEE as per Section III – CHARTERPARTY Prices and Schedules for Variations, or as otherwise agreed between the PARTIES. 8 MAINTENANCE 8.1 Maintenance and operation of the FPSO from the EFFECTIVE DATE is the responsibility of CONTRACTOR under the O&M CONTRACT. 8.2 Notwithstanding any provisions in this CHARTERPARTY to the contrary, no dry-docking of the FPSO shall be undertaken by OWNER (or the CONTRACTOR) for the first 5 (five) years of the INITIAL PERIOD unless agreed to in advance and in writing by COMPANY, in its sole discretion. Any time lost, and all costs and expenses incurred, in connection with any dry-docking of the FPSO, starting with the preparation for the disconnect of the FPSO from the mooring system and continuing through the dry-dock until the FPSO returns to the designated location within the AREA OF OPERATIONS and is re-connected to the mooring system and fully operational shall be for the sole account of OWNER, and no DAILY COMPENSATION FEE shall be payable by COMPANY during any such time lost.
RIGHT OF EXTENSIONProvided that the Tenant is not then in default, the Tenant shall have the option of extending the term on 9 months notice for one additional term of five (5) years (subject to section 7), upon the same terms and conditions, except as to rent which shall be at market.